REG - Ascent Resources PLC - Further re Placing - Directors' subscriptions <Origin Href="QuoteRef">ASCR.L</Origin>

Ascent ResourcesAnnouncement

27/10/2016 11:00

RNS Number : 6317N
Ascent Resources PLC
27 October 2016
27 October 2016
Ascent Resources plc
("Ascent", the "Group", or the "Company")
Further re Placing - Directors' subscriptions
The Board of Ascent (AIM: AST) announces that, subsequent to the announcement this morning of the Placing to raise up to 4.5 million (gross of expenses), the Company's Directors have today entered into agreements to subscribe for a total of 50,000 in principal of new 2016 Loan Notes in the amounts shown below:
Director 2016 Loan Notes
Clive Carver  13,333
Colin Hutchinson   10,001
Cameron Davies  13,333
Nigel Moore  13,333
The 2016 Loan Notes being subscribed by the Directors are in addition to, and will rank pari passu with, the 1.0m in principal amount of 2016 Loan Notes subscribed in the Placing announced earlier today and are convertible into new ordinary shares at 1p per ordinary share, being the same price as the Placing Price. 
Enquiries:
Ascent Resources plc 0207 251 4905
Clive Carver, Chairman
Colin Hutchinson, CEO
Stockdale Securities Limited, Nominated Adviser and Broker 020 7601 6100
Richard Johnson
Andy Crossley
 
Northland Capital Partners Limited, Broker  020 3861 6625
Tom Price
John Howes 
Abigail Wayne
IFC Advisory Ltd, Financial PR and IR  0203 053 8671  
Graham Herring
Tim Metcalfe
Heather Armstrong
Definitions in this announcement shall have the same meaning as in the Company's announcement of the Placing earlier today unless otherwise stated.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

This information is provided by RNS
The company news service from the London Stock Exchange
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